The Abana Foundation Inc

Nonprofit profile at a glance

EIN
571147865
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-N 2022
Location
New York, NY, USA
Phone
2125993030
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$499,503
Expenses
$288,730
Assets
$1,385,635
Liabilities
$56,401

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

20 people listed

Executive titles in this filing

  • KHALID AZIM (President)

People named in this filing

  • Amr Nosseir (Director)
  • Joud Abdel Majeid (VICE CHAIR)
  • Hamza Fassi-Fehri (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

TO promote the advancement of education and social equity, through scholarship and mentorship directed at students with heritage (or demonstrated interest/experience) in MENA regions.

What it reported doing in 2024

The John Mack ABANA Fellowship: In 2024, The Foundation selected five fellows, who would receive $15,000 grant each. This amount is per school year. $75,000 was disbursed collectively to the 5 Fellows. The fellows will also be assigned a mentor from ABANA, Inc.s extensive network of finance leaders. And finally, they will take part in an exclusive summit in New York City in 2025 during which they will meet with and learn from top industry leaders. The Foundation received more than 100 applications and chose 5 recipients who received the monetary award of the fellowship. There were no volunteers.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 32
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 77
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 22.9%; rating input score 23
  • Program expense ratio: 26%; rating input score 26
  • Fundraising efficiency: $1,341.46 raised per $1 spent on fundraising; rating input score 98; 98th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 27th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 42.2%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 4.8; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 175% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: -83.7% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 20.2% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 22.9% of revenue deployed · 26% of spending went to programs
  • Governance: 21 of 20 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $75K in reported program spending
  • Leadership: top reported pay $0 · 20 people listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 23/100.
  • High — Financial Efficiency: Program expense ratio scored 26/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Independent members within voting members did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.